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4 billion to construct but shuttered in 2014 after just two years in operation – opened last June. Colorado real estate developer Bruce Deifik purchased the closed Boardwalk casino in January 2018 without ever seeing the property in person. The CCC says the property lost million in five months, and has been out of compliance since November. The state requires casinos to have at least million on hand at all times, but Ocean Resort has less than million. Financial NightmareLuxor Capital and JP Morgan Chase Bank were Deifik’s two main lenders for his 9 million purchase of Ocean Resort from Florida-based real estate developer Glenn Straub. drake 58 casino In financial filings, Luxor says it will spend million to pay down JP Morgan’s outstanding loan, and the remaining million to take a majority ownership position in the casino property. The hedge fund additionally says it will finish the remaining 500 hotel rooms that weren’t renovated under Deifik’s ownershipisland resort and casino mobile app. After a star-studded grand opening last June, Ocean Resort failed to meet gross gambling revenue (GGR) projections. Brian Christopher Slots Dancing Drums Fymv Netherlands

Deifik’s team told state gaming regulators that the casino would net over 4 million in its first full year. firekeepers casino number However, financial reports from the New Jersey Division of Gaming Enforcement (DGE) show that the property won just 1. 1 million between June through the end of 2018. Appointee RoleLuxor needs to undergo the lengthy process of obtaining a casino license from the CCC. hallmark casino no rules bonus That’s where Matejevich comes in. bellagio casino update online gambling sites 777 The Press of Atlantic City says the casino executive will assume control of the property in the interim. Riversweeps Online Casino App Android Download For Android Wdsm The Commission’s designation allows the property to remain open for business. Doubledown Casino Number Zyvg The DGE will first investigate Luxor